On Nov 01, major Wall Street analysts update their ratings for $Coinbase (COIN.US)$, with price targets ranging from $178 to $320.
BofA Securities analyst Mark McLaughlin CFA maintains with a hold rating, and sets the target price at $214.
Mizuho Securities analyst Dan Dolev maintains with a sell rating, and sets the target price at $178.
Oppenheimer analyst Owen Lau maintains with a buy rating, and adjusts the target price from $282 to $265.
Needham analyst John Todaro maintains with a buy rating, and adjusts the target price from $260 to $290.
Piper Sandler analyst Patrick Moley maintains with a hold rating, and maintains the target price at $245.
Furthermore, according to the comprehensive report, the opinions of $Coinbase (COIN.US)$'s main analysts recently are as follows:
Coinbase continues to solidify its position to capitalize on the long-term adoption of cryptocurrency through persistent product introductions and innovations. The anticipated increases in EPS for 2025 and 2026 reflect a positive adjustment in future earnings expectations.
Coinbase's Q3 revenue and adjusted EBITDA fell short of estimates with volumes slightly under expectations. The significant portion of low-/no-fee stablecoin pair trading contributed to a more pronounced miss in retail transaction revenue. Despite potential near-term pressure on the shares, attention is shifting back towards the election.
While the company surpassed the firm's projections, it did not meet the wider market's expectations, primarily due to trading activity in cryptocurrency that was less than anticipated. Nevertheless, there is a possibility that subdued activity could shift positively with certain political outcomes, potentially broadening the range of cryptocurrency products offered and stimulating heightened trading activity.
It was noted that despite a decline in consumer take rates by 40 basis points quarter over quarter, Coinbase has maintained its fee rate structure in the Consumer app, which was viewed positively. However, there is concern that the growing approvals of ETFs may be shifting user preference away from alt-coins and more towards Bitcoin and Ethereum, potentially casting doubt on Coinbase's enduring competitive advantage.
Here are the latest investment ratings and price targets for $Coinbase (COIN.US)$ from 8 analysts:
Note:
TipRanks, an independent third party, provides analysis data from financial analysts and calculates the Average Returns and Success Rates of the analysts' recommendations. The information presented is not an investment recommendation and is intended for informational purposes only.
Success rate is the number of the analyst's successful ratings, divided by his/her total number of ratings over the past year. A successful rating is one based on if TipRanks' virtual portfolio earned a positive return from the stock. Total average return is the average rate of return that the TipRanks' virtual portfolio has earned over the past year. These portfolios are established based on the analyst's preliminary rating and are adjusted according to the changes in the rating.
TipRanks provides a ranking of each analyst up to 5 stars, which is representative of all recommendations from the analyst. An analyst's past performance is evaluated on a scale of 1 to 5 stars, with more stars indicating better performance. The star level is determined by his/her total success rate and average return.